Employers Back Conservative Announcement To Cut Business Tax First

Responding to the commitment from George Osborne, Shadow Chancellor at the British Chambers of Commerce (BCC) Annual Conference that a Conservative Government would cut business taxes first when lower taxes are possible, BCC.

"Businesses have been an easy target for the Government in recent years. Employers pay more than their fair share in taxes. In global terms, ten years ago we had the 9th lowest corporation tax rate, today we have slipped to the 16th lowest. While many countries are lowering their tax rates in recent years we have seen our overall tax take increase.

"This commitment from the Conservatives to cut business tax first is therefore very welcome. We must ensure our businesses remain competitive and can meet the challenges head on of an increasingly global market.

"We also support the Conservative proposal to reverse the Chancellor’s decision on the Home Computing Initiative (HCI). Research has shown that 72% of all those who have taken part in the scheme were in the 22% tax bracket and there has been no formal consultation where these issues could be thought through. We are pleased to see the Conservative proposal on HCI is in line with ours at the BCC.”